Bank Accounts of Brazilian Public Officers Are Discovered in Switzerland

As recent events have underscored, it has become more and more evident the necessity of the execution of a bilateral agreement between Brazil and Switzerland for the mutual assistance in criminal matters (MLAT). According to a report which was delivered to the Attorney-General of the Republic by the Swiss authorities, the eight public officers involved had remitted more then U.S. $33 million. According to the information, the accounts were opened three years ago with the Discount Bank of Zurich and were discovered only after the merger, the accounts were deemed suspicious and the Brazilian public officers were not able to convince the Swiss bankers of the legal origin of the amounts deposited. Therefore, the bank resolved, according to national legislation, to notify the competent authorities. The Public Prosecution and the Brazilian Federal Police are investigating the eight public officers for crimes of money laundering, foreign currency drain, tax evasion, passive corruption and extortion. If convicted they may be sentenced to up to ten years of imprisonment. One suspects that they extorted large companies which owed sums to the tax authorities, by ?selling? amnesty of fines and tax benefits.